Listen to this article
Airalo, a startup that provides eSIM connectivity for international travelers, has raised $60 million in a Series B funding round. The round was co-led by e& Capital, the venture arm of UAE-based carrier Etisalat, and included participation from Antler Elevate, Liberty Global, Rakuten Capital, Singtel Innov8, Surge, Orange, T Capital, KPN Ventures, Telefónica Ventures, and I2BF Global Ventures. The funds will be used to double the company’s employee base, expand its generative AI capabilities, and continue product development.
Airalo’s Services and Market Growth
Airalo offers a platform that provides a wide range of lower-cost mobile data packages for international travelers. The platform uses eSIM connectivity, a software-based standard that allows users to switch between mobile carriers without physically changing the SIM card in their phones. Airalo currently offers 689 different combinations of eSIM products, covering some 200 countries, geographic regions, service durations, and data package sizes.
The company has seen significant growth recently, with a 20% revenue growth month on month and nearly 1 million downloads monthly for the past three months. It currently has 5.1 million customers buying its eSIM products.
The Future of Airalo
With the new funding, Airalo plans to double its number of employees by the end of 2023, particularly in the areas of engineering, product, customer success, marketing, and sales. The company also aims to expand its generative AI capabilities and continue product development.
One new service that Airalo plans to introduce is “Airalo Partners,” an innovative connectivity solution tailored to businesses and organizations across the globe. This service will further expand the company’s offerings and potentially open up new markets and customer segments.
Final Thoughts
Airalo’s successful funding round and plans for expansion highlight the growing importance and potential of eSIM technology in the telecommunications industry. As the company continues to innovate and expand its offerings, it is well-positioned to become a leading player in the global eSIM market.
Please email us your feedback and news tips at hello(at)techcompanynews.com
